When Thriftiness Can Hurt Your Credit

If you’re planning for a big purchase, like a home, you’re likely paying extra careful to your spending these days. While tightening the purse strings can save you money and is good practice, neglecting your credit cards can actually do more harm than good in some cases. A common misconception by savers is that they should pay off their credit cards and leave them aside if they are trying to maintain or improve their credit rating, this is actually not the case. In some instances, credit card companies will actually close accounts that aren’t being used. And as a general rule of thumb, you need…